RTX Corporation (NYSE:RTX) Shares Acquired by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC increased its stake in RTX Corporation by 7.1%, owning approximately 2,093,573 shares valued at $277.32 million.
• RTX Corporation reported earnings of $1.56 per share in the last quarter, exceeding estimates and reflecting a revenue increase of 9.4% year-over-year.
• The company declared a quarterly dividend of $0.68 per share, set to be paid on September 4th, indicating a dividend yield of 1.7%.

Neuberger Berman Group LLC increased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,093,573 shares of the company's stock after purchasing an additional 138,316 shares during the quarter. Neuberger Berman Group LLC owned 0.16% of RTX worth $277,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new stake in shares of RTX during the 1st quarter worth about $26,000. 10Elms LLP acquired a new position in RTX in the 4th quarter valued at about $29,000. Greenline Partners LLC acquired a new position in RTX in the 4th quarter valued at about $34,000. Mpwm Advisory Solutions LLC acquired a new position in RTX in the 4th quarter valued at about $43,000. Finally, McClarren Financial Advisors Inc. acquired a new position in RTX in the 1st quarter valued at about $44,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on RTX. Susquehanna lifted their target price on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Barclays lifted their target price on RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $170.00 target price (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a research note on Monday, July 21st. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $158.67.

RTX Stock Down 0.3%

RTX stock traded down $0.46 during trading on Thursday, hitting $155.25. 2,766,508 shares of the company's stock were exchanged, compared to its average volume of 5,066,212. The business has a 50-day moving average price of $149.25 and a two-hundred day moving average price of $136.22. The stock has a market capitalization of $207.81 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 2.87 and a beta of 0.69. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $158.79. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 earnings per share. As a group, equities research analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.8%. RTX's dividend payout ratio (DPR) is 59.78%.

Insider Activity at RTX

In other RTX news, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the transaction, the insider owned 16,442 shares of the company's stock, valued at $2,551,798.40. The trade was a 31.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,589 shares of company stock valued at $7,126,389 over the last 90 days. 0.15% of the stock is owned by insiders.

RTX Company Profile

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.